Insider Selling: Concentrix Co. (NASDAQ:CNXC) EVP Sells 500 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $44.05, for a total transaction of $22,025.00. Following the completion of the transaction, the executive vice president now directly owns 23,936 shares in the company, valued at approximately $1,054,380.80. The trade was a 2.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Concentrix Stock Performance

NASDAQ CNXC traded up $0.33 during trading hours on Tuesday, reaching $43.27. 354,722 shares of the company were exchanged, compared to its average volume of 580,075. The stock has a market capitalization of $2.80 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.56 and a beta of 0.63. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $106.10. The business’s 50 day simple moving average is $42.97 and its 200-day simple moving average is $56.27.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CNXC. Bank of America dropped their target price on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Baird R W raised shares of Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Barrington Research lowered their target price on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Finally, Robert W. Baird started coverage on shares of Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 target price on the stock. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $79.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in Concentrix by 64.9% in the third quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the last quarter. nVerses Capital LLC lifted its position in shares of Concentrix by 10.7% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock valued at $196,000 after buying an additional 300 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Concentrix by 21.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 4,370 shares of the company’s stock worth $277,000 after acquiring an additional 764 shares during the period. Clark Estates Inc. NY increased its holdings in Concentrix by 2.0% in the 3rd quarter. Clark Estates Inc. NY now owns 45,150 shares of the company’s stock worth $2,314,000 after acquiring an additional 900 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Concentrix in the 2nd quarter valued at about $68,000. 90.34% of the stock is owned by institutional investors.

Concentrix Company Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.